1118 Green Pine Blvd Unit G2 · West Palm Beach, FL 33409

$275,000

3 bd · 2.0 ba · 1,462 sqft · Condo public records · 38 Days on market

Built 1984 $819/mo HOA · 25% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare 3 Bedroom condo very well maintained and clean in beautiful gated community with amenities in the heart of West Palm Beaches Village area. 24 Hour manned guard gate, community pool, tennis courts, clubhouse, picnic area and more. Private covered and screened patio overlooks private lake. Condo has separate dining area, large kitchen and large laundry/utility room with extra storage. Beautifully maintained community. FOR MORE INFORMATION OR FOR SHOWING INSTRUCTIONS CONTACT LISTING AGENT DIRECTLY

Key facts

• Updated kitchen
• Granite countertops
• New roof

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• LUXURY PLANK FLOORING
• FULLY RENOVATED BATHROOMS
• NEW ROOF
• WALK-IN LAUNDRY ROOM

Property features AI

Finance

• Other: Pets allowed with size limits
• HOA & community: Has association; Monthly HOA fee; Association amenities include parking, pool, tennis courts, pickleball courts, recreation facilities, gated access, and security; HOA covers cable TV, grounds maintenance, security, sewer, trash, water, and recreation facility

Exterior

• Parking: 2 parking spaces; No carport
• Security: Gated community; Community security
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; 2 total stories; North-facing
• Construction: Built with other construction materials; Other roof type
• Exterior features: Waterfront property

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric cooktop
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Has heating (type: Other); Central air conditioning
• Interior features: Walk-in closets
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (7.1% below list).
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $256k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Seminole Trails Elementary School (math 26% / reading 36%, grade F, #1,854 of 2,144 statewide, top 87%, 650 students, 73% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.1%/yr); 194 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $150k; list at $275k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $255,531 (7.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 5.71%
• Cash-on-cash: -2.10%
• DSCR: 0.91
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.19×
• Total profit: $-62,167
• Equity at exit: $41,003

10-year hold

• IRR: -42.6%
• Equity multiple: -0.30×
• Total profit: $-99,981
• Equity at exit: $23,777

Cash invested: $77,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 194
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,272 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$819
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $-135

Break-even live

Break-even rent $3,442

Max offer price $255,531

Occupancy floor 99%

Sensitivity live

Price	-10% $56	-5% $-40	+0% $-135	+5% $-230	+10% $-325
Rent	-10% $-393	-5% $-264	+0% $-135	+5% $-5	+10% $124
Rate	-1.0pp $4	-0.5pp $-65	base $-135	+0.5pp $-206	+1.0pp $-278

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	7d	1	0.30mi
4543 Tara Cove Way West Palm Beach, FL	3.0	2.5	1807	$3,000	$1.66	0d	1	0.53mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	26d	1	0.67mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	26d	1	0.79mi
2820 Tennis Club Dr #408 West Palm Beach, FL	3.0	2.0	1610	$3,800	$2.36	26d	1	0.82mi
4567 Brook Dr West Palm Beach, FL	3.0	2.0	1528	$3,000	$1.96	26d	1	0.95mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	24d	1	1.12mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$3,108	$2.54	19d	60	1.18mi
2480 Presidential Way #1903 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	26d	1	1.29mi
2480 Presidential Way #902 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	7d	1	1.29mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	26d	1	1.31mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	4d	1	1.31mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	26d	1	1.32mi
3810 Rowena Cir West Palm Beach, FL	2.0	2.0	1505	$3,150	$2.09	15d	1	1.33mi
3810 Rowena Cir West Palm Beach, FL	2.0	2.0	1505	$3,000	$1.99	9d	1	1.33mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	26d	1	1.38mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	18d	1	1.40mi
149 Stratford N West Palm Beach, FL	2.0	2.0	978	$1,650	$1.69	26d	1	1.41mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$3,250	$3.04	21d	19	1.46mi

HOA detail condo

• Monthly dues: $819 · $9,828/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $275,000 Active 38 DOM
2. 2026-06-18
   days on market $275,000 Active 35 DOM
3. 2026-06-17
   days on market $275,000 Active 34 DOM
4. 2026-06-16
   days on market $275,000 Active 33 DOM
5. 2026-06-15
   days on market $275,000 Active 32 DOM
6. 2026-06-13
   days on market $275,000 Active 30 DOM
7. 2026-06-09
   days on market $275,000 Active 26 DOM
8. 2026-06-08
   days on market $275,000 Active 25 DOM
9. 2026-06-07
   days on market $275,000 Active 24 DOM
10. 2026-06-04
    days on market $275,000 Active 21 DOM
11. 2026-06-03
    days on market $275,000 Active 20 DOM
12. 2026-06-02
    days on market $275,000 Active 19 DOM
13. 2026-06-01
    days on market $275,000 Active 18 DOM
14. 2026-05-31
    days on market $275,000 Active 17 DOM
15. 2026-05-13
    listed $275,000 Active
16. 2018-11-16
    soldstatus $150,000
17. 2018-08-20
    historical
18. 2018-06-24
    price $159,900
19. 2018-05-02
    price $164,900
20. 2018-02-19
    listed $169,900 Active
21. 2016-02-24
    soldstatus $105,000
22. 2016-01-19
    soldstatus $105,000 Closed 504-char remark

    Show marketing remark (504 chars)

    Rare 3 Bedroom condo very well maintained and clean in beautiful gated community with amenities in the heart of West Palm Beaches Village area. 24 Hour manned guard gate, community pool, tennis courts, clubhouse, picnic area and more. Private covered and screened patio overlooks private lake. Condo has separate dining area, large kitchen and large laundry/utility room with extra storage. Beautifully maintained community. FOR MORE INFORMATION OR FOR SHOWING INSTRUCTIONS CONTACT LISTING AGENT DIRECTLY

23. 2016-01-05
    historical Contingent 504-char remark

    Show marketing remark (504 chars)

    Rare 3 Bedroom condo very well maintained and clean in beautiful gated community with amenities in the heart of West Palm Beaches Village area. 24 Hour manned guard gate, community pool, tennis courts, clubhouse, picnic area and more. Private covered and screened patio overlooks private lake. Condo has separate dining area, large kitchen and large laundry/utility room with extra storage. Beautifully maintained community. FOR MORE INFORMATION OR FOR SHOWING INSTRUCTIONS CONTACT LISTING AGENT DIRECTLY

24. 2015-10-07
    listed $119,900 Active 504-char remark

    Show marketing remark (504 chars)

    Rare 3 Bedroom condo very well maintained and clean in beautiful gated community with amenities in the heart of West Palm Beaches Village area. 24 Hour manned guard gate, community pool, tennis courts, clubhouse, picnic area and more. Private covered and screened patio overlooks private lake. Condo has separate dining area, large kitchen and large laundry/utility room with extra storage. Beautifully maintained community. FOR MORE INFORMATION OR FOR SHOWING INSTRUCTIONS CONTACT LISTING AGENT DIRECTLY

25. 1985-01-01
    soldstatus $62,800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,265
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,141
• − Management: −$3,141
• − HOA: −$9,828
• − Depreciation: −$8,000
• Taxable loss: −$5,750
• Est. tax savings @ 24.0%: +$1,380
• After-tax cash flow: $-235/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Palm Beach
• NCES district ID: 1201500
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $53,943
• Composite: 42.72/100
• National rank: #3160
• State rank: #34 of 73 in FL

Livability — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

Amenities A- Commute A+ Cost of living B- Crime F Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

Population outlook (Palm Beach County) Hauer SSP2

• Today (2025): 1,637,487 people
• By 2030: 1,743,255 · +6.5%
• By 2040: 1,948,712 · +19.0%
• By 2050: 2,132,979 · +30.3%
• By 2075: 2,530,027 · +54.5%
• By 2100: 2,706,979 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% French/Haitian/Cajun 10% Other Indo-European 2%

Political lean MEDSL · Palm Beach

• 2024 margin: Toss-up / Even · D 50.0% · R 49.2%
• 2008→2024 swing: -22.1pp toward R · 2008: 22.9pp · 2024: 0.8pp
• All cycles: 2024: D+0.8 2020: D+12.8 2016: D+15.3 2012: D+17.0 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+337.9% since first listed

11 events — show timeline

• 2026-05-13 Listed $275,000 Beaches MLS
• 2018-11-16 Sold (Public Records) $150,000 Public Records
• 2018-08-20 Listing Removed — Beaches MLS
• 2018-06-24 Price Changed $159,900 Beaches MLS
• 2018-05-02 Price Changed $164,900 Beaches MLS
• 2018-02-19 Listed $169,900 Beaches MLS
• 2016-02-24 Sold (Public Records) $105,000 Public Records
• 2016-01-19 Sold (MLS) $105,000 Beaches MLS
• 2016-01-05 Contingent — Beaches MLS
• 2015-10-07 Listed $119,900 Beaches MLS
• 1985-01-01 Sold (Public Records) $62,800 Public Records

Property tax history

-11.9%/yr

Latest (2025): $293 · +5.6% YoY. Source: county tax records.